Posts from ‘January, 2009’

Latest GDP data from US show accelerating downturn

As announced by the Bureau of Economic Analysis (BEA) today, GDP in the US grew by 1.3% in real terms in 2008. Sounds nice given the current stream of bad news from the American labour market, but the quarterly update doesn’t. Still, there’s no point in writing sensationalist horror news, so here’s another fairly sober [...]

Infrastructure inferno in Kenya

There aren’t very many modern supermarkets outside South Africa in the Sub-Saharan region. Kenya, in the east, is one of the liveliest markets, but even domestic grocer Nakumatt doesn’t need more than 25 stores to be the undisputed number one in a landscape overwhelmingly dominated by traditional forms of retail.

Well, 24 since this morning. Because fire [...]

First lead indicators point to Euro Zone recovery in late 2009 (hopefully)

Following the nasty escalation of the global financial crisis since September 2008, the world has seen a number of downward revisions of economic growth expectations. The latest big forecast adjustments have come from the European Commission last week (see details here), and from the IMF which has updated its latest interim paper from November this [...]

UK officially in recession now

As announced by the UK’s national statistical office this morning, Britain is now in recession (according to the common definition), having suffered two consecutive quarters of shrinking GDP, in real terms.
Quarter-on-quarter output fell by 0.6% in Q3 and by 1.5% in Q4. It’s Britain’s first recession since 1991, and it is hurting a variety of [...]

Most shocking details yet to be revealed!!

Another downward revision of growth expectations, this time from Europe

The European Commission has released a new set of economic forecasts for the European Union (EU).
Previous forecasts have been subject to fairly hefty downward revisions, and the Commission now thinks that the recession in the EU will be deeper than in the US, and it thinks that the EU will recover more slowly than the [...]

UK government grinds its teeth while giving more help to banks

After a busy weekend for ministers, treasury officials and bank representatives, the British government has this morning announced a string of measures designed to revive bank lending, in order to give support to both businesses and homebuyers.
In other words, the government is admitting that the banking system will not return to normal trading unless [...]

Globalisation in its darkest moments, part VI

This picture from Taiwan was spotted by Corinne Millar. I totally support that sort of honesty and suggest that a number of food chains around the world follow the example. After all, what retailers should do is help their clients make informed choices!

P.S.: According to Yujun Qiu, our man in China, the Chinese on the [...]

By the way, what’s become of the WTO talks?

Following substantial political pressure, mainly from France and Germany, the European Union (EU) announced yesterday that it will revive its export subsidies for butter, cheese and milk powder next week in a bid to support dairy producers hit by falling prices. The EU also promised that it will buy up extra volumes of butter and [...]

Globalisation in its darkest moments, part V

(Click on image for larger version)